A wall featuring the
graffiti of Marquis Lewis, with whom Flohr has
partnered.Flickr

Stacy Meichtry has a
fascinating report over at The Wall Street Journal about Thomas
Flohr, the German-born private jet magnate who has managed to
fashion his own unique brand of luxury jets, VistaJet, despite
the stress of the 2008 financial crisis.

Here's what Flohr is doing differently that's making his company
such a success in a market that includes competitors like
Warren Buffett:

He charges hourly rates--a flight between London and Moscow
could cost 40,000 euros. Buffett's company, NetJets, employs a fractional jet ownership
strategy where travelers are required to own stakes in the planes
they use. For VistaJet, Flohr told Meichtry, more travelers are
trading down to avoid the risk of investment.

He targets Russian oligarchs, Chinese entrepreneurs, and
Middle Eastern oil tycoons less affected by the Western
economic slump.

He buys his own lavish Bombardier jets, unlike
competitors that operate planes owned by other companies. It's
riskier, but it means he has complete control over the whole
operation.

He keeps maintenance costs down by selling the jets
before their warranties have expired.

He's turned his jets into a proper brand with a sophisticated
image by working closely with his 25-year-old daughter, Nina
Flohr, whose mother is the creative director of Fabergé and
a former editor of "Russian Vogue" (her parents are
divorced). As the brand manager, Nina's revamped the jet
company's image, most importantly by having each jet's tailfin
painted with graffiti.

Meichtry noted that Flohr won't provide detailed numbers, but he
did tell Meichtry that VistaJet's revenue rose 25 percent, to 300
million euros, last year.